Wunderlich Securities Reacts to MasTec's Acquisition of WesTower Communications

In a report published Wednesday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $35.00 price target on MasTec (NYSE: MTZ).In the report, Wunderlich Securities noted, “This week MasTec, Inc. (MTZ) announced that it had acquired WesTower Communications, Inc. in order to further expand its presence in the wireless infrastructure segment. WesTower has seen strong growth over the past few years but the bottom line never reflected these improvements due to working capital issues (among others); but given MasTec's experience in the segment and history of integrating and improving acquired companies we like the move. Further, given WesTower had such large exposure to AT&T (T-NR), we believe this is the strongest indication yet that MasTec expects the issues with its largest client in 2014 to truly be a thing of the past and for 2015 to be a strong year of growth. We maintain our Buy rating on MTZ.”MasTec closed on Tuesday at $27.28.